• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• Smartbuy

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Kochi, June 2 The public sector Cochin Shipyard Ltd created history on Monday by simultaneously launching five platform supply vessels for different owners.

The ships launched were the seventh in a series of eight ships under construction for Deep Sea Supply, Norway.

The launch was made by flooding the dock at the press of a button. The chief guest for the function was Vice-Admiral S.K. Damle, Flag Officer Commanding In Chief, Southern Naval Command. Commodore M. Jitendran, Chairman and Managing Director, and other senior officials from CSL were present on the occasion.

The performance of the ship repair department has also been commendable and the ship repair turnover crossed the Rs 240-crore mark in 2007-08. T

he net profit of the company also registered a three-fold increase in 2006-07 from Rs 18 crore in 2005-06 to Rs 58 crore in 2006-07. The financial performance in 2007-08 is expected to surpass all previous records, a press release said.

The yard has been making and breaking records in the last five years.

The total turnover of the company has increased three-fold, from Rs 235 crore to Rs 720 crore in 2006-07. Record shipbuilding turnover of Rs 478 crore was achieved in 2006-07, an achievement that was again surpassed in 2007-08 with the shipbuilding income reaching Rs 600 crore.

The platform supply ships, which were launched on Monday, are of the popular UT-755 L design for the offshore industry.

The vessel is designed for satisfying the specific demands for transport of deck cargo, pipes, liquid cargo, and cement/barite among others, and unloading to rigs, production platforms, and pipe-laying barges among others.

They are the workhorse of the offshore oil field industry which acts as a lifeline carrying operational supplies and stores to far-off installations.

As the offshore industry moves into deeper waters, demand for such advanced vessels is expected to rise. These ships have been designed by Rolls Royce ship technology group.

The ship is built and classified under the most stringent rules and regulations of Det Norske Veritas and is classed for unmanned engine room and dynamic positioning.

The vessel also satisfies ‘CLEAN’ notation of DNV, which signifies high standards of environmental safety.

More Stories on : Shipping | Performance

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Patel to meet PM on aviation fuel price

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line